Bandar Agacia brings Kampar to the fore

PETALING JAYA (June 13): Agacia Land Sdn Bhd is transforming 100 acres of ex-tin mining land in Kampar, Perak, into a RM1.8 billion tourist attraction and education hub called Bandar Agacia.

Its president and CEO Datuk Michael Lim recently launched the third phase of the Bandar Agacia on June 13 called Champs-Élysées, a RM151 million mixed-use development on 1.5 acres of land in Bandar Agacia.

Champs-Élysées comprises a 24-storey tower with 629 fully furnished serviced suites and a 30,000 sq ft commercial area.

Inspired by the famous Avenue des Champs-Élysées in Paris, France, the tower will boast Gothic architecture. Studio suites are priced at RM206,600 upwards, 2-bedroom suites at RM400,000 and the penthouse at RM2.9 million.

Some 160 units of the tower are reserved for a hotel to be operated by Agacia Hotels & Resorts Sdn Bhd, while the commercial space is reserved for Agacia College, which will be run by Agacia Education Group Sdn Bhd.

To boost tourism in the area, Agacia Land has also included a "castle" on a one-acre plot next to the Champs-Élysées tower. The Agacia Castle is an extension of the Champs Élysées hotel and will have three suites.

Lim says more than half of the total units in Champs-Élysées have been sold, and is confident the project has unique selling points that will enable it to do well in a soft property market.

“While other developers in Kampar cater for the majority student population with low to medium-end products, Agacia Land is the first to bring in high-end developments. There are 10% to 15% of Utar students who come from high-net worth families whose main concern is the security and comfort of their children... which is why our developments place importance on security,” he says.

Read the full report in the June 15 issue of City&Country, the property pullout of The Edge Malaysia.